(Reuters) - U.S. stock indexes edged higher in choppy trade on Monday, led by gains in Tesla and PayPal shares, while investors geared up for earnings reports from heavyweight technology companies this week that could provide direction to the markets.Tesla Inc rose 4.5% to a record high after car rental firm Hertz placed an order for 100,000 Tesla cars, while Morgan Stanley boosted its price targe...Read More
Oct 25 (Reuters) - Ahead of Facebook Inc's (FB.O) financial results on Monday, the social media giant is expected to be hurt more than others in big tech by Apple Inc's (AAPL.O) iPhone privacy changes, investors fear, after Snap Inc (SNAP.N) missed revenue targets last week.The Apple privacy updates, which began rolling out in April and prevent advertisers from tracking iPhone users withou...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - B2Gold (TSX: BTO) announcedMonday that it has entered into a binding agreement with West AfricanResources, pursuant to which B2Gold has agreed to sell to WAF 100% of theissued and outstanding shares of...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Hedge funds remain reluctant to jump into gold; however, silveris attracting new momentum as its industrial demand picks up, according to someanalysts quoting the latest trade data from the Commodity F...Read More
(Adds comments, updates prices throughout)Oct 25 (Reuters) - Canada's main stock index hit a record high on Monday as energy stocks rose on higher oil prices, but expectations that the Bank of Canada could strike a hawkish note in its upcoming policy announcement kept gains in check.The Canadian energy index jumped more than 2% to lead sectoral gains in early trading after oil prices touched multi...Read More
Oct 25 (Reuters) - PayPal Inc (PYPL.O) is not pursuing an acquisition of Pinterest Inc (PINS.N) at this time, the payments company said late on Sunday, responding to media reports that it was in talks to buy the digital pinboard site for as much as $45 billion.PayPal shares rose 6.2% to $255.20 in premarket trading on Monday, while those of Pinterest fell about 10% to $52.50.Bloomberg News fir...Read More
Mr. Chris Taylor reports GREAT BEAR REPORTS 95.2% TO 99.2% GOLD RECOVERIES IN PRELIMINARY LP FAULT METALLURGICAL TESTS - GOLD IS FREE MILLING AND READILY SOLUBLE AT ALL GRADES Great Bear Resources Ltd. has released gold recovery test results from its 100-per-cent-owned flagship Dixie project, in the Red Lake district of Ontario.Chris Taylor, president and chief executive officer of Great Bear, sai...Read More
FRANKFURT, Oct 25 (Reuters) - Tesla's Model 3 topped European car sales in September, marking the first time an electric vehicle has done so in monthly charts, research group JATO Dynamics said on Monday.At 24,591 cars registered, Tesla's Model 3 recorded year-on-year growth of 58%, followed by Renault's (RENA.PA) Clio, Dacia's Sandero and Volkswagen's (VOWG_p.DE) Golf model, JATO said.In the...Read More
(Kitco News) Nuclear energy is seeing a major comeback with the demand for uranium stocks soaring, said Scott Melbye, Uranium Royalty Corp CEO and executive VP of Uranium Energy Corp."Demand for uranium and nuclear generation has responded back to pre-Fukushima levels. We've seen 57 new reactors come online around the world," Melbye told Michelle Makori, editor-in-chief of Kitco News.Uranium is cu...Read More
ZURICH (Reuters) -UBS Group has agreed to sell its Spanish wealth management business to Madrid-based Singular Bank, the Swiss bank said on Monday, its second exit from a European market in the past 12 months.UBS said it was selling UBS Gestion to Singular for an undisclosed sum. German newspaper Handelsblatt said Singular Bank will pay UBS between 200 million and 250 million euros ($291 million)...Read More
BENGALURU, Oct 25 (Reuters) - The Bank of Canada will raise rates as early as the third quarter of next year, at least three months earlier than previously expected, according to economists polled by Reuters who see a risk that the increase could come even sooner.Just last month economists were almost evenly split on the risk of higher rates; now nearly all are saying sooner rather than later.That...Read More
Oct 25 (Reuters) - Thrasio Holdings Inc, which acquires third-party sellers on Amazon.com Inc, said on Monday it had raised $1 billion in a funding round led by private equity firm Silver Lake. (Reporting by Niket Nishant in Bengaluru; Editing by Vinay Dwivedi) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has mad...Read More
Oct 25 (Reuters) - Industrial and Commercial Bank of China plans to provide 3 trillion yuan ($470 billion) of financing for the energy sector over the next five years, the country's National Energy Administration (NEA) said on Monday.A strategic cooperation agreement signed by the two entities is partly aimed at helping ensure energy and power supplies in winter and spring, the NEA said in a brief...Read More
Last weekwas an interesting one for the metals. The bottoms held, the trend reversed andfrom looking bad, they now look great. Forget about the news. The price actionand charts show bullish formations. During the past 6-7 days, we have seenhigher highs and higher lows, which indicate the rally should continue. Lookingback to Friday, gold and silver looked prepared for blastoff. Of course, JeromePo...Read More
Oct 25 (Reuters) - Sustainable footwear maker Allbirds Inc on Monday set terms for its initial public offering in the United States, saying it is targeting a fully diluted valuation of as much as $2.2 billion. (Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc....Read More
Mr. John Watson reportsDRILLING COMMENCES AT THE SLUMBER GOLD PROJECT, HUMBOLDT COUNTY, NEVADANV Gold Corp. has commenced drilling at the 100-per-cent-controlled Slumber gold project located approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada, United States. Drilling at Slumber will encompass up to 1,500 metres in six to eight RC drill holes."Drilling commenced today at the Slu...Read More
LONDON (Reuters) - World stocks paused near six-week highs on Monday as investors girded for the busiest week of third quarter earnings in the backdrop of slowing growth, with widening inflation risks from multi-year-high crude oil prices weighing on sentiment.Risky assets have staged a comeback in recent weeks after a torrid September as investors shunned bonds. Allocations to bond markets droppe...Read More
(Adds details on 2022, quotes)MADRID, Oct 25 (Reuters) - Relatively high inflation rates are likely to prevail in Spain over coming months although their underlying causes are mainly transitory, Bank of Spain Governor Pablo Hernandez de Cos said on Monday.A surge in energy prices could last through the winter as demand generally increases because of cold weather while oil and gas storage levels ar...Read More
BENGALURU (Reuters) -Indian shares ended mostly unchanged on Monday as losses in auto and information technology stocks were offset by gains in banks, after strong results from ICICI Bank drove other lenders higher.The blue-chip NSE Nifty 50 index ended up 0.06% at 18,125.40, while the benchmark S&P BSE Sensex rose 0.2% to 60,967.05.ICICI Bank rose as much as 14.2% to an all-time high and helped t...Read More
LONDON, Oct 25 (Reuters) - The dollar rebounded off a one-month low on Monday as traders looked ahead to tighter U.S. monetary policy even as they bet on the prospect of interest rate hikes happening earlier outside of the United States.Currency markets were broadly quiet at the start of the week with traders awaiting U.S. growth data and central bank meetings in the euro zone, Japan and Canada.Th...Read More